Industry NewsMarkets & Economy

Foreclosures hit ‘sand state’ metros

Loan delinquencies also on the rise
Published on Apr 22, 2009

The 26 metro areas with the highest foreclosure rates during the first quarter were located in just four "sand states" -- California, Florida, Nevada and Arizona --  data aggregator RealtyTrac said today. Las Vegas had the highest foreclosure rate of 203 U.S. metro areas with populations of 200,000 or more, with one foreclosure-related filing for every 22 housing units. Las Vegas was followed by Merced, Calif. (one filing per 24 homes) and Cape Coral-Fort Myers, Fla. (one filing per 26 homes), RealtyTrac said. Other metro areas in the top 10 included Stockton, Calif. (one filing per 27 homes), Riverside-San Bernardino-Ontario, Calif. (one filing per 28 homes), Modesto, Calif. (one filing per 29 homes), Bakersfield, Calif. (one filing in 37 homes), and Vallejo-Fairfield, Calif. (one filing per 37 homez); Phoenix, Ariz. (one filing per 40 homes); and Port St. Lucie, Fla. (one filing per 46 homes). Thirteen of the top 26 metro foreclosure rates were in California, n...

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